Management and staff are to discuss the future of the SeaCat ferry service between Belfast and Troon in Scotland after losses over the past year.
The company confirmed talks with staff representatives and unions would take place over the next month on the future of the route following losses incurred amid increased competition from low budget airlines and rising fuel prices.
Last year, the ferry service carried 302,656 passengers and 72,876 vehicles on the route. Management said the company had continued to sustain an unacceptable level of trading loss.
A total of 41 permanent staff are employed by SeaCat in Belfast and four in Troon.
Diane Poole, general manager of SeaCat, said: "SeaCat were the pioneers of fast craft travel on the Irish Sea in 1992. "Since then the travel industry has undergone immense change.
"Increased competition from budget airlines and spiralling fuel costs leave no option but to review the future of the operation."
PA